QUALCOMM (NASDAQ:QCOM) Stock Price Down 0.2% After Insider Selling

QUALCOMM Incorporated (NASDAQ:QCOM)’s stock price traded down 0.2% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $197.09 and last traded at $199.67. 1,529,778 shares traded hands during trading, a decline of 84% from the average session volume of 9,287,072 shares. The stock had previously closed at $200.03.

Specifically, Director Sylvia Acevedo sold 744 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the transaction, the director now owns 54 shares in the company, valued at $9,802.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other QUALCOMM news, Director Sylvia Acevedo sold 744 shares of QUALCOMM stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $181.52, for a total transaction of $135,050.88. Following the completion of the sale, the director now directly owns 54 shares of the company’s stock, valued at approximately $9,802.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO James H. Thompson sold 8,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $199.47, for a total value of $1,595,760.00. Following the completion of the transaction, the chief technology officer now owns 237,893 shares in the company, valued at approximately $47,452,516.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,185 shares of company stock valued at $8,456,475. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on QCOM shares. Robert W. Baird increased their price objective on QUALCOMM from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Canaccord Genuity Group increased their price target on shares of QUALCOMM from $180.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $190.00 price objective on shares of QUALCOMM in a research note on Thursday, May 2nd. Barclays increased their target price on shares of QUALCOMM from $155.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, Citigroup boosted their price target on QUALCOMM from $160.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.13.

QUALCOMM Stock Performance

The company has a market capitalization of $222.60 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.42 and a beta of 1.27. The stock’s fifty day simple moving average is $195.82 and its 200-day simple moving average is $169.67. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.98 and a current ratio of 2.65.

QUALCOMM (NASDAQ:QCOM) last announced its quarterly earnings data on Wednesday, May 1st. The wireless technology company reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.11. QUALCOMM had a net margin of 23.03% and a return on equity of 37.09%. The business had revenue of $9.39 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts predict that QUALCOMM Incorporated will post 7.85 earnings per share for the current year.

QUALCOMM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Thursday, May 30th were issued a dividend of $0.85 per share. This is a boost from QUALCOMM’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, May 30th. This represents a $3.40 annualized dividend and a dividend yield of 1.70%. QUALCOMM’s dividend payout ratio (DPR) is 45.70%.

Hedge Funds Weigh In On QUALCOMM

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of QUALCOMM during the 4th quarter worth about $2,507,978,000. Matrix Capital Management Company LP purchased a new position in QUALCOMM during the first quarter worth approximately $1,171,516,000. International Assets Investment Management LLC boosted its holdings in shares of QUALCOMM by 12,998.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,006,156 shares of the wireless technology company’s stock valued at $434,780,000 after purchasing an additional 2,983,206 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of QUALCOMM by 1,543.8% during the 4th quarter. Pacer Advisors Inc. now owns 2,831,577 shares of the wireless technology company’s stock valued at $409,531,000 after buying an additional 2,659,323 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of QUALCOMM by 8.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,336,496 shares of the wireless technology company’s stock worth $3,664,418,000 after buying an additional 1,909,025 shares during the last quarter. 74.35% of the stock is currently owned by institutional investors and hedge funds.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.